Brazil lubricant demand to increase 2.5% in next 10 years - exec

05 December 2013 16:46  [Source: ICIS news]

JERSEY CITY, New Jersey (ICIS)--Brazilian lubricant demand will grow 2.5% in the next 10 years, an executive with Ipiranga said on Thursday.

The growth in demand is slower than the 6.4% growth that occurred between 2010 and 2012 but represents a ripe opportunity for lubricants producers and merchants such as Ipiranga, said Sergio Viscardi, the group's technical manager of fuels and lubricants.

He made his comments during a presentation of the ninth ICIS Pan-American Base Oils & Lubricants Conference.

Viscardi pointed to the underlying potential for greater demand growth in Brazil, citing statistics that showed only 18% of the population in South America’s largest country own an automobile.

The ICIS Pan-American Base Oils & Lubricants Conference continues through Friday.

By: Jeremy Pafford
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index